Opinaca

[Ed Monton]

Sirios, Dios outline significant gold at Pontax


2006-01-23 05:36 ET - News Release

Also News Release (C-DOS) Dios Exploration Inc


Ms. Dominique Doucet of Sirios reports

SIRIOS RESOURCES INC. : SIGNIFICANT GOLD ANOMALIES FOUND ON PONTAX

Sirios Resources Inc. has outlined significant gold anomalies under the till sampling program carried out on the Pontax property. This property is held in partnership with Dios Exploration Inc. on a 50-50 basis. It is located in James Bay, Que., 350 kilometres north of Matagami along the paved road going to Radisson. It is also approximately 75 kilometres to the southwest of the Eleonore gold discovery of Virginia Gold Mines Inc.

On a total of 145 samples assayed, 37 (26 per cent) heavy mineral concentrates graded more than 10 parts per billion in gold including 19 (13 per cent) grading more than 100 parts per billion, with a maximum value of 820 parts per billion. Several gold anomalies are grouped and up-ice of lake sediment gold anomalies up to 43 parts per billion gold. In a regional context, such results, are qualified of very encouraging. The study of the glacial dispersion, and the till content is continuing and suggests a proximal source. The Eleonore and Elmer gold occurences are excluded as a source.

Following these results, 215 claims (pending) were added to properly cover some areas of interest. The property now totals 1,127 claims covering approximately 600 square kilometres.

The till sampling program was completed during the 2005 summer on the property where 146 samples were taken for diamond indicators picking and then assayed for 48 elements including gold. The collect and preparation of the samples were completed by IOS Services Geoscientifiques Inc. (IOS) of Chicoutimi and supervised by Patrice Villeneuve, Geo, qualified person under the National Instrument 43-101. Inductively coupled plasma mass spectrometry (ICP-MS) assays were performed in ALS Chemex laboratories, Val d'Or, Que.

Under the agreement with Dios (see news issued in Stockwatch dated June 8, 2005), the process for kimberlite indicator minerals (diamond) is paid by Dios, while the cost incurred for the gold and the base metals assaying is paid by Sirios. Depending of the future results, if the project should focus specifically on gold, Sirios will have the option to buy back Dios's share, by repaying in cash or shares (acquisition and exploration costs) and vice versa.